Zimra
Encyclopedia
The Zimbabwe Revenue Authority, or ZIMRA, is the body responsible for collecting taxes in Zimbabwe
. The Zimbabwe Revenue Authority derives its mandate from the Revenue Authority Act, passed by the parliament of Zimbabwe
in 2002 and other related legislation.
as specified by the Revenue Authority Act. The revenues and tax
es administered by ZIMRA include:
regulation, the authority monitors trade and all traffic through borders crossings, airports, and seaports. ZIMRA is tasked to reduce smuggling
and illegal trade. The authority regulations on imports, exports and foreign exchange controls
. As part of this duty, the agency regulates human travel.
The agency is responsible for overseeing motor vehicle trade and acts as a port authority, managing aspects of freight loading and unloading.
in Zimbabwe, replacing the sales tax
. The agency in the past has endorsed the presumptive tax and road toll
s, as well as new systems like Asycuda World
and a self assessment system of taxation.
Zimbabwe
Zimbabwe is a landlocked country located in the southern part of the African continent, between the Zambezi and Limpopo rivers. It is bordered by South Africa to the south, Botswana to the southwest, Zambia and a tip of Namibia to the northwest and Mozambique to the east. Zimbabwe has three...
. The Zimbabwe Revenue Authority derives its mandate from the Revenue Authority Act, passed by the parliament of Zimbabwe
Parliament of Zimbabwe
The Parliament of Zimbabwe consists of two chambers:*The Senate *The House of Assembly...
in 2002 and other related legislation.
Responsibilities
ZIMRA as an agency is responsible for collection of taxes and other revenue streams for the government.Collection of revenue
ZIMRA is responsible for assessing, collecting and accounting for revenue through the Ministry of FinanceMinistry of Finance (Zimbabwe)
The Ministry of Finance is a government ministry, responsible for the economy of Zimbabwe. The incumbent is Tendai Biti. Its oversees:* Reserve Bank of Zimbabwe* Zimbabwe National Revenue Authority...
as specified by the Revenue Authority Act. The revenues and tax
Tax
To tax is to impose a financial charge or other levy upon a taxpayer by a state or the functional equivalent of a state such that failure to pay is punishable by law. Taxes are also imposed by many subnational entities...
es administered by ZIMRA include:
Trade regulation
As part of its role in customsCustoms
Customs is an authority or agency in a country responsible for collecting and safeguarding customs duties and for controlling the flow of goods including animals, transports, personal effects and hazardous items in and out of a country...
regulation, the authority monitors trade and all traffic through borders crossings, airports, and seaports. ZIMRA is tasked to reduce smuggling
Smuggling
Smuggling is the clandestine transportation of goods or persons, such as out of a building, into a prison, or across an international border, in violation of applicable laws or other regulations.There are various motivations to smuggle...
and illegal trade. The authority regulations on imports, exports and foreign exchange controls
Foreign exchange controls
Foreign exchange controls are various forms of controls imposed by a government on the purchase/sale of foreign currencies by residents or on the purchase/sale of local currency by nonresidents.Common foreign exchange controls include:...
. As part of this duty, the agency regulates human travel.
The agency is responsible for overseeing motor vehicle trade and acts as a port authority, managing aspects of freight loading and unloading.
Advisory
In addition to its role as a collector of taxes and revenue, the agency advises the legislature on enacting new revenue streams. In 2004, the agency spearheaded the introduction of the value added taxValue added tax
A value added tax or value-added tax is a form of consumption tax. From the perspective of the buyer, it is a tax on the purchase price. From that of the seller, it is a tax only on the "value added" to a product, material or service, from an accounting point of view, by this stage of its...
in Zimbabwe, replacing the sales tax
Sales tax
A sales tax is a tax, usually paid by the consumer at the point of purchase, itemized separately from the base price, for certain goods and services. The tax amount is usually calculated by applying a percentage rate to the taxable price of a sale....
. The agency in the past has endorsed the presumptive tax and road toll
Road toll
Road toll is the term used in some countries for the number of deaths caused annually by road accidents.The term is in common and official use in Australia and New Zealand.-Australia:In Australia the road toll is reported at a state level...
s, as well as new systems like Asycuda World
ASYCUDA
The Automated System for Customs Data is a computerized system designed by the United Nations Conference on Trade and Development to administer a country's customs. In 2004 there were more than 50 operational project with expenditures exceeding US$7 million...
and a self assessment system of taxation.